Topic 3 Test ESL

Front

What is the total cost of an item including sales tax?

Back

To find the total cost including sales tax, multiply the item's price by the sales tax rate (as a decimal) and add it to the original price. For example, for an $800 laptop with a 15% tax: Total Cost = $800 + ($800 * 0.15) = $920.

Front

How do you calculate a percentage increase from one number to another?

Back

To calculate the percentage increase, subtract the original number from the new number, divide the result by the original number, and multiply by 100. For example, from $65 to $144: Increase = (144 - 65) / 65 * 100 = 121%.

Front

What is a tip and how is it calculated?

Back

A tip is a sum of money given to service workers for their service. To calculate a tip, multiply the total bill by the tip percentage (as a decimal). For example, for a $28 meal with a 20% tip: Tip = $28 * 0.20 = $5.60; Total Bill = $28 + $5.60 = $33.60.

Front

What is 50% of a number?

Back

To find 50% of a number, divide the number by 2. For example, 50% of 200 is 200 / 2 = 100.

Front

What is the equivalent decimal of a percentage?

Back

To convert a percentage to a decimal, divide the percentage by 100. For example, 25% as a decimal is 25 / 100 = 0.25.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you find the total cost of an item with a sales tax of 8%?

Back

Multiply the item's price by 0.08 (the decimal form of 8%) and add that amount to the original price.

Front

What is the formula for calculating the total cost including tax?

Back

Total Cost = Original Price + (Original Price * Sales Tax Rate).

Front

How do you express a percentage as a fraction?

Back

To express a percentage as a fraction, place the percentage over 100 and simplify if possible. For example, 25% = 25/100 = 1/4.

Front

What is the difference between a discount and a markup?

Back

A discount reduces the price of an item, while a markup increases the price above the cost.